D.A. Davidson & CO. Buys 20,195 Shares of Rocket Lab Corporation $RKLB

Key Points

• D.A. Davidson & Co. boosted its stake in Rocket Lab by 464.7% in Q4, adding 20,195 shares to hold 24,541 shares worth about $1.71 million.
• Company insiders have been selling recently: Director Merline Saintil sold 18,126 shares and CEO Peter Beck sold 18,857 shares, with insiders offloading a total of 233,449 shares (~$16.49 million) in the past three months.
• Shares opened at $78.81 and were down about 4.5%; Rocket Lab has a $44.88 billion market cap and analysts' consensus is a Moderate Buy with a $83.31 price target.

D.A. Davidson & CO. increased its stake in shares of Rocket Lab Corporation (NASDAQ:RKLB - Free Report) by 464.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,541 shares of the rocket manufacturer's stock after acquiring an additional 20,195 shares during the quarter. D.A. Davidson & CO.'s holdings in Rocket Lab were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Arizona State Retirement System increased its stake in Rocket Lab by 13.6% during the third quarter. Arizona State Retirement System now owns 127,794 shares of the rocket manufacturer's stock worth $6,123,000 after acquiring an additional 15,307 shares during the last quarter. Firsthand Capital Management Inc. increased its stake in Rocket Lab by 40.0% during the third quarter. Firsthand Capital Management Inc. now owns 70,000 shares of the rocket manufacturer's stock worth $3,354,000 after acquiring an additional 20,000 shares during the last quarter. Swiss National Bank increased its stake in Rocket Lab by 67.7% during the third quarter. Swiss National Bank now owns 1,243,630 shares of the rocket manufacturer's stock worth $59,582,000 after acquiring an additional 501,830 shares during the last quarter. Vanguard Group Inc. increased its stake in Rocket Lab by 13.4% during the fourth quarter. Vanguard Group Inc. now owns 47,420,192 shares of the rocket manufacturer's stock worth $3,308,033,000 after acquiring an additional 5,610,469 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Rocket Lab by 14.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 153,106 shares of the rocket manufacturer's stock worth $7,335,000 after acquiring an additional 19,304 shares during the last quarter. 71.78% of the stock is currently owned by institutional investors.

Rocket Lab Trading Down 4.5%

Shares of RKLB opened at $78.81 on Friday. The company has a market capitalization of $44.88 billion, a P/E ratio of -212.99 and a beta of 2.30. Rocket Lab Corporation has a one year low of $20.23 and a one year high of $99.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.61 and a current ratio of 4.08. The stock has a 50-day moving average price of $72.26 and a 200 day moving average price of $68.22.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

• Positive Sentiment: High-profile endorsement: Jim Cramer said on Mad Money that “I think that Rocket Lab is a winner,” a bullish retail-media signal that can drive short-term buying interest and confidence among long-term holders. Jim Cramer Says “I Think That Rocket Lab Is a Winner”
• Positive Sentiment: Echoed coverage: Independent financial sites republished Cramer’s comments, reinforcing the same bullish narrative and broadening reach to investors who follow newsletters and aggregation sites. Jim Cramer Says “I Think That Rocket Lab Is a Winner” (InsiderMonkey)
• Neutral Sentiment: Sector product development (possible competitive context): Planet Labs and Carbon Mapper announced a specialized Tanager spacecraft for shortwave infrared (SWIR) imaging — a development in the small-sat remote-sensing market that could affect demand dynamics for satellite platforms and data services but does not directly announce business with or against Rocket Lab. Monitor whether this spurs new customer spending or demand for launch and spacecraft buses. Planet Labs & Carbon Mapper To Develop Specialized Tanager Spacecraft

Insider Transactions at Rocket Lab

In related news, Director Merline Saintil sold 18,126 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $75.04, for a total value of $1,360,175.04. Following the completion of the transaction, the director owned 261,903 shares of the company's stock, valued at approximately $19,653,201.12. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Peter Beck sold 18,857 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $69.59, for a total value of $1,312,258.63. Following the completion of the transaction, the chief executive officer directly owned 884,085 shares of the company's stock, valued at $61,523,475.15. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 233,449 shares of company stock valued at $16,487,233 in the last three months. 8.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Rocket Lab from a "sell" rating to a "hold" rating in a research note on Sunday, February 8th. Bank of America increased their target price on Rocket Lab from $60.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, January 20th. The Goldman Sachs Group increased their target price on Rocket Lab from $47.00 to $69.00 and gave the company a "neutral" rating in a research note on Tuesday, January 20th. KeyCorp lowered Rocket Lab from an "overweight" rating to a "sector weight" rating in a research note on Thursday, January 15th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $85.00 target price on shares of Rocket Lab in a research note on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.31.

Rocket Lab Company Profile

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company's primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company's propulsion capabilities.

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